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Congrats! Do you think the US flip made a meaningful difference (presuming you did it for US customer/investor access)? Lucanet is EU, so maybe it complicated
by sails 2y ago
Congrats!
Do you think the US flip made a meaningful difference (presuming you did it for US customer/investor access)? Lucanet is EU, so maybe it complicated it in the end
- refrigerator 2y agoWe started as a US company in 2019 to make fundraising easier, and I think this did have a material impact. It's operationally quite annoying, but chances are that we would have had to do it eventually, to efficiently employ US people without paying Deel extortionate fees
- sails 2y agoThanks! Any tips for optimising the operational process? Most impactful thing that you did to reduce friction?
- Lukas1994 2y agoIf you want to do it properly you need to setup an inter-company loan agreement, transfer pricing, you need accountants and tax specialists for both UK and US, ... so the costs will definitely be significant. I don't think there are any shortcuts. Ideally, you find an accountant that is familiar with this setup.
- Lukas1994 2y agoIt did make the acquisition process a bit more difficult + US lawyers are more expensive than UK/German lawyers. It's still worth it IMO given how much easier fundraising gets.